A progress report on the development of a Business Improvement District (BID) in Neath has been presented to Councillors.
The proposed BID aims to deliver a sustainable financial model to a defined geographical area where businesses have the opportunity to vote to invest collectively in local improvements to the business environment, in addition to those delivered by statutory authorities. BIDs have been known to successfully bring together local businesses and stakeholders to improve trading conditions.
Early last year, Neath Port Talbot Council successfully secured funding of £25,000 from the Welsh Government to develop the BID concept, aims and vision together with an outline implementation strategy.
A business consultation was carried out with over 100 local traders to raise awareness and gauge the level of support for a BID. Results showed that the business health of the town was good with the majority of businesses reporting that turnover had grown over the last 12 months.